CNBC’s Jim Cramer on Friday recommended financiers to brace themselves versus Wall Street’s negativeness next week as issues over a possible economic crisis install.
“I do believe that our economy’s headed for a slowdown — that’s just what rate hikes do. But a slowdown doesn’t necessarily translate into a horrific, crash-landing recession. … There are many ways this situation can play out that don’t end in a full-blown recession,” the “Mad Money” host stated.
“Regardless of what happens next week, Wall Street’s going to remain in good news, bad news mode. … So, perhaps you should steel yourself for the negativity,” he later on included.
Key parts of the Treasury yield have actually inverted today, raising issues that the economy is headed for an economic downturn. Yield curve inversions have actually traditionally preceded economic crises however are not ensured indications.
The Dow Jones Industrial Average increased 0.4% on Friday while the S&P 500 acquired 0.34%. The Nasdaq increased 0.29%.
Cramer likewise previewed next week’s slate of business reporting quarterly incomes, in addition to other occasions pertinent to the marketplace.
All incomes and income quotes are thanks to FactSet.
Monday: U.S. Census Bureau’s Durable Goods report
- Report release at 10: 00 a.m. ET
“If it’s strong, I can tell you it will be pronounced as the last good number” of a cycle on its last legs, Cramer stated. “If it’s bad, it’ll be the first bad number of the apocalypse.”
Tuesday: Acuity Brands, Greenbrier Companies
Acuity Brands
- Q2 2022 incomes release at 6 a.m. ET; teleconference at 8 a.m. ET
- Projected EPS: $2.38
- Projected income: $885 million
“Last time they did well, but thanks to the inverted yield curve, this time if they say things are good, they will be branded as hopeless optimists on their conference call unless they tell a truly depressing story,” Cramer stated.
Greenbrier Companies
- Q2 2022 incomes release; teleconference on Wednesday at 11 a.m. ET
- Projected EPS: 19 cents
- Projected income: $576 million
Cramer stated that he’ll be keeping “plummeting freight rates” in mind when evaluating the business’s incomes. “I don’t think it’s customer demand sinking but supply of drivers rising,” he stated.
Wednesday: Federal Reserve March conference notes, Levi Strauss
Federal Reserve
- March 15 – 16 conference minutes launch at 2 p.m. ET
“Those keeps in mind originated from a duration prior to the collapse in transport rates, which’s something that can lower inflation all by itself. … Be conscious that [the minutes are] old,” Cramer stated.
Levi Strauss
- Q1 2022 incomes release; teleconference at 5 p.m. ET
- Projected EPS: 42 cents
- Projected income: $1.55 billion
Cramer stated he has an interest in learning whether increasing expense of cotton has actually impacted Levi Strauss’ gross margins.
Thursday: Constellation Brands, Conagra Brands
Cramer stated he liked the juxtaposition of the 2 brand names: Constellation’s brand names consist of names like Corona and Mi Campo while Conagra’s portfolio consists of brand names like Slim Jim and Earth Balance.
Constellation Brands
- Q4 2022 incomes release prior to the bell; teleconference at 10: 30 a.m. ET
- Projected EPS: $2.09
- Projected income: $2.02 billion
Conagra Brands
- Q3 2022 incomes release at 7: 30 a.m. ET; teleconference at 9: 30 a.m. ET
- Projected EPS: 58 cents
- Projected income: $2.84 billion
Friday: Baker Hughes’ North American rig count
- Release at 1 p.m. ET weekly
“The oils are arguably the last remaining strong group besides the recession-proof utilities, and they love that they can make a ton of money holding down production,” Cramer stated.
